Asia Poly in deal to buy 30% of GB

TheStar Thu, Nov 19, 2020 08:50am - 3 years View Original


The company said in a press release that the corporate exercise is expected to be completed by the first quarter of 2021 after a due diligence with regard to the proposed acquisition. (File pic - A worker at the Asia Poly Holdings production line)

PETALING JAYA: Ace Market-listed Asia Poly Holdings Bhd has signed a head of agreement with Gooi Chin Hooi to acquire 30% of the shares in unlisted GB Plas Sdn Bhd for RM15mil.

The company said in a press release that the corporate exercise is expected to be completed by the first quarter of 2021 after a due diligence with regard to the proposed acquisition.

The release said Gooi is the largest shareholder in GB Plas with a 65% stake, while Ng Kar Hung has 25%, and Gooi Wen Xin and Gooi Wen Ning at 5% each.

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